Baltimore Airport Hotel Snapped Up for $16M

LINTHICUM, MD-Ownership of the SpringHill Suites at Baltimore-Washington International Airport has changed hands in a recent transaction in which Ashford Hospitality Trust Inc. purchased the 133-room hotel from the Buccini/Pollin Group of Alexandria, VA and New Castle, DE. The new owner, a Dallas-based hotel REIT, handed over $9 million in cash and assumed $6.8 million in non-recourse debt in exchange for the property. SpringHill Suites are part of the Marriott International Inc. chain of hotels.

Developed just three years ago, SpringHill Suites-BWI Airport features a state-of-the-art exercise facility, a business center and over 1,000 sf of meeting space spread out among three rooms. “The acquisition of SpringHill Suites-BWI Airport demonstrates the capabilities and benefits of our diversified investment strategy,” Ashford president and CEO Monty J. Bennett says. “Its operating performance has improved each year since opening, and the hotel enjoys a competitive location at one of the region’s most active airports.”